Natixis Advisors LLC Has $184.39 Million Stock Position in The Progressive Corporation $PGR

Key Points

• Natixis Advisors LLC trimmed its stake in The Progressive Corporation by 3.6% in Q3 and now owns 746,684 shares worth about $184.39 million (≈0.13% of the company).
• Company insiders have been net sellers recently — they sold 9,103 shares totaling roughly $1.88 million over the past 90 days, and insiders currently own about 0.34% of the stock.
• Analysts’ consensus rating on Progressive is "Hold" with an average price target of $245.50; analyst coverage breaks down to 7 Buys, 13 Holds and 1 Sell.

Natixis Advisors LLC decreased its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 746,684 shares of the insurance provider's stock after selling 27,886 shares during the period. Natixis Advisors LLC owned approximately 0.13% of Progressive worth $184,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Davis Capital Management acquired a new position in shares of Progressive during the third quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Progressive in the second quarter valued at about $33,000. Howard Hughes Medical Institute acquired a new stake in Progressive during the 2nd quarter valued at approximately $34,000. Ameriflex Group Inc. increased its position in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock worth $31,000 after buying an additional 65 shares during the period. Finally, TruNorth Capital Management LLC grew its holdings in Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider's stock worth $41,000 after acquiring an additional 135 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, insider Maribel Pumarejo sold 739 shares of Progressive stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Jonathan S. Bauer sold 3,105 shares of the business's stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive directly owned 26,249 shares of the company's stock, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,103 shares of company stock worth $1,883,924 in the last 90 days. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

PGR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Progressive from $225.00 to $232.00 and gave the stock a "market perform" rating in a research report on Thursday, February 19th. Zacks Research upgraded Progressive from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Piper Sandler reiterated an "overweight" rating and set a $259.00 price objective on shares of Progressive in a report on Monday, March 2nd. Wells Fargo & Company cut their target price on Progressive from $220.00 to $214.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 19th. Finally, Morgan Stanley cut their price target on shares of Progressive from $214.00 to $205.00 and set an "underweight" rating on the stock in a report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of "Hold" and an average target price of $245.50.

Progressive Price Performance

Shares of NYSE:PGR opened at $210.92 on Friday. The company has a 50-day moving average price of $208.98 and a two-hundred day moving average price of $223.98. The firm has a market capitalization of $123.58 billion, a PE ratio of 10.96, a P/E/G ratio of 9.20 and a beta of 0.33. The Progressive Corporation has a twelve month low of $197.92 and a twelve month high of $292.99. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive's dividend payout ratio (DPR) is presently 2.08%.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

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